n the first half of 2025, new capacity in the spandex industry continued to be gradually released. Demand still grew, but the growth rate narrowed compared with the first half of 2023-2024. Price competition was still common in the spandex market. Prices only rebounded slightly after the Spring Festival, and showed a slight downward adjustment in other months. The spandex industry has been in a long-term loss, and the cash flow pressure of 40D was still obvious. Coupled with costs such as finance and depreciation, most enterprises have suffered extremely obvious losses. The average operating rate of the spandex industry in the first half of the year was still more than 3 percentage points lower than the same period of last year.
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